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Tassheel Q2 profits fall to 48.22M
The preliminary financial results of Taseel Company showed a 19.36% year-on-year decline in its profits during the second quarter of 2026, with net profits amounting to 48.22 million Riyals compared to 59.8 million Riyals in the same period of the previous year. The profits also decreased by 25.11% compared to the first quarter of this year. The decline is attributed to a slowdown in the growth of the financing portfolio due to market conditions, despite the company recording a 6.53% increase in revenues, reaching 204.96 million Riyals. The financing portfolio grew by 13.6%, reaching 3.2 billion Riyals. For the first half of the year, the company recorded a net profit of 112.61 million Riyals, representing a 4.25% decrease compared to the same period last year.
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